Issue Number: Tax Tip 2025-57
Tax professionals should always remain alert to any scams and protect their client data. A common scam geared towards tax pros aims to collect their Electronic Filing Identification Numbers. Read more
The IRS has announced that no changes will be made to Form W-2 or other information returns regarding overtime and tip wages for Tax Year 2025, as part of the phased implementation of the One Big Beautiful Bill Act (OBBBA). This decision ensures stability for the upcoming tax season, allowing employers and payroll providers to continue using current procedures for reporting and withholding. For more details, visit the IRS announcement at IRS announces no changes to individual information returns or withholding tables for 2025 under the One Big Beautiful Bill Act | Internal Revenue Service.
Issue Number: Tax Tip 2025-53
Social media can be a resource for up-to-date tax information, especially with the many changes to the federal taxes in 2025. However, taxpayers should be mindful of what accounts they’re following for tax advice. Unfortunately, there’s a lot of inaccurate or scam advice being shared. Which is why it’s important that taxpayer get tax-related information from IRS verified social media account or e-news services.
Issue Number: FS-2025-03
Note: This Fact Sheet has been updated July 25 by adding to the section on “No Tax on Car Loan Interest” new language describing the requirement for “Final assembly in the United States.”
Below are descriptions of new provisions from the One Big Beautiful Bill Act, signed into law on July 4, 2025, as Public Law 119-21, that go into effect for 2025.
